Barclays Forecasts Strong Price Appreciation for FOX (NASDAQ:FOXA) Stock

FOX (NASDAQ:FOXA) had its target price upped by equities researchers at Barclays from $39.00 to $50.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 8.49% from the stock’s previous close.

FOXA has been the topic of several other research reports. Morgan Stanley lifted their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Citigroup lifted their price objective on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Loop Capital upped their price target on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Bank of America lifted their price objective on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.94.

FOX Stock Performance

Shares of FOXA stock opened at $54.64 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company has a market cap of $24.96 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.25 and a beta of 0.76. FOX has a one year low of $28.28 and a one year high of $55.56. The firm has a 50-day moving average of $48.63 and a 200-day moving average of $43.95.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue was up 19.9% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. Equities research analysts forecast that FOX will post 4.12 EPS for the current fiscal year.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FOXA. Pacer Advisors Inc. raised its holdings in FOX by 44,205.3% during the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after buying an additional 7,897,710 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of FOX by 308.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after acquiring an additional 919,883 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of FOX by 3,077.5% during the fourth quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company’s stock worth $43,016,000 after purchasing an additional 857,609 shares during the period. Finally, KBC Group NV increased its holdings in FOX by 56.1% during the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after purchasing an additional 851,127 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.